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- Identitii (ID8) launches its automated anti-money laundering and counter-terrorism financing (AML/CTF) reporting platform in New Zealand
- The platform will simplify the submission of prescribed transaction reports (PTR) to New Zealand’s Financial Intelligence Unit (FIU)
- Further, it will help NZ reporting entities improve visibility over financial crime compliance obligations and automate key manual processes to reduce operational burden internally
- ID8 CEI John Rayment says the company’s platform offers support to over 5000 New Zealand reporting entities
- Shares in Identitii closed grey at 3.6 cents on Monday afternoon
Identitii (ID8) last week launched its automated anti-money laundering and counter-terrorism financing (AML/CTF) reporting platform in New Zealand.
The platform will simplify the submission of prescribed transaction reports (PTR) to New Zealand’s Financial Intelligence Unit (FIU), which is the country’s anti-money laundering and financial crime compliance regulator.
Further, it will help NZ reporting entities improve visibility over financial crime compliance obligations and automate key manual processes to reduce operational burden internally.
“Regulators all over the world are cracking down on non-compliance with anti-money
laundering and counter-terrorism financing regulations in a bid to curb financial crime,” Identitii CEO John Rayment said.
“We are pleased today to extend our offering to support over 5,000 New Zealand reporting entities so they can benefit from increased transparency and improved assurance, as well as more automation when it comes to AML/CTF reporting.”
With the launch of the platform, the company believes it will position itself to expand into any jurisdiction that uses the GoAML framework, which is a fully integrated software application created by the United Nations (UN) as part of its strategic response to financial crime.
According to ID8, over 65 countries around the world use the GoAML framework.
Shares in Identitii closed grey at 3.6 cents on Monday afternoon.
